Get App
PRE MARKET
Gift Nifty indicates a marginally negative start for the Indian market. The index was quoted at 24,799.5, higher by a meagre 0.1 percent or 25 points.
US stocks dipped on Tuesday as rising Treasury yields and concerns over the nation’s sovereign debt profile weighed on investor sentiment.
The Dow Jones Industrial Average fell 114.83 points, or 0.27%, closing at 42,677.24. The S&P 500 also declined, shedding 23.14 points (0.39%) to finish at 5,940.46. Meanwhile, the Nasdaq Composite ended the day lower by 72.75 points, a 0.38% drop, reaching 19,142.71.
Asian markets advanced in the last trading session, contrasting with a weaker session on Wall Street, where the S&P 500 snapped a six-day winning streak.
Japan’s Nikkei 225 edged up 0.26%, the Broader Topix climbed 0.45%, and South Korea’s Kospi rose 0.58%. However, futures have pointed to a softer opening for Hong Kong’s Hang Seng index.
STOCK TODAY
Patel Engineering
The company has received a contract worth Rs 711.29 crore from the North Eastern Electric Power Corporation (NEEPCO) for the construction of the 240 MW HEO Hydropower Project in Arunachal Pradesh under EPC (engineering, procurement, and construction) mode. Earlier, Patel Engineering had been declared the lowest bidder for this project.
Biocon
The company’s subsidiary, Biocon Biologics, through its commercial partner in Japan, Yoshindo Inc., has launched Ustekinumab BS Subcutaneous Injection, a biosimilar to the reference product Stelara (ustekinumab). Ustekinumab, a monoclonal antibody, is indicated for the treatment of psoriasis vulgaris and psoriatic arthritis.
KPR Mills
Promoters KP Ramasamy, KPD Sigamani, and P Nataraj are likely to sell up to 3.2% stake in the company via block deals, reports CNBC-TV18, quoting sources. The offer size may be around Rs 1,195.6 crore.
Ircon International
The company has received a work order worth Rs 253.56 crore from South Western Railway. The order involves survey, design, supply, installation, testing, and commissioning of KAVACH equipment and other associated works over 778 RKM of the Bengaluru and Mysuru divisions of South Western Railway.
Bajaj Finserv
The Competition Commission of India (CCI) has approved the acquisition of Bajaj Allianz Life Insurance Company, Bajaj Allianz General Insurance Company, and Bajaj Allianz Financial Distributors by Bajaj Finserv, Bajaj Holdings & Investment, and Jamnalal Sons. Bajaj Finserv, Bajaj Holdings & Investment, and Jamnalal Sons will acquire a 26% stake in Bajaj Allianz Life Insurance Company and Bajaj Allianz General Insurance Company from Allianz SE. Further, Bajaj Finserv will acquire a 50% stake in Bajaj Allianz Financial Distributors from Allianz SE.
Source – Moneycontrol
Disclaimer: Investments in the Securities market and Mutual Funds are subject to market risks. Read all the related documents carefully before investing | The securities are quoted as an example and not as a recommendation | Brokerage will not exceed the SEBI-prescribed limit | Margins will be collected as per the exchange norms.